1107 Langtry St Pittsburgh, PA 15212
- Commercial real estate
Current Use by Public Records
- Commercial real estate
Property Details for 1107 Langtry St
- Property type
- Commercial real estate
Description
This exceptional investment opportunity presents Halls Grove Apartments, a 36-unit multifamily property located at 1107 Langtry St, Pittsburgh, PA 15212, in the desirable Marshall/Shadeland submarket. The property boasts a strong 9.02% cap rate based on a Net Operating Income (NOI) of $200,675, with an asking price of $2,225,000. The complex comprises a well-maintained, all-brick, 32-unit building, originally constructed as a school in 1988, and four additional two-bedroom townhome units situated across the street. Each unit in the main building features in-unit laundry facilities and air conditioning. Tenants are responsible for their own electricity, while townhome tenants cover all utilities. The property includes 19 off-street parking spaces, a significant advantage in this location. Approximately half of the tenants currently utilize Section 8 vouchers. Conveniently located approximately five miles from Downtown Pittsburgh, Halls Grove Apartments enjoys proximity to Riverview Park, diverse employment opportunities, numerous restaurants, and excellent transportation options. This property offers a compelling combination of strong cash flow, attractive location, and potential for future upside. The property's Class C designation reflects its current condition and potential for value-add improvements. The price per unit is $61,805.56.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Pittsburgh
- County
- Allegheny
- State
- Pennsylvania
- Longitude
- -80.0279733
- Latitude
- 40.4773006
